I am very concerned that we have proposed budget cuts to certain areas at Treasury.

if we are really serious about cutting off illicit fentanyl and hitting back at the cartels, then it is critical that President Biden's budget be fully funded.

So, I believe if we are going to save American lives, we need a global strategy to bolster anti-money laundering efforts.

I commend the actions of our Administration, the Biden Administration, through its reports, guidance, and Executive Orders.

I am disappointed that the consumers' voice has been missing from all of these conversations.

I am encouraged to see that our prudential banking regulators are recommending caution.

Chairman Gensler claims that he wants investors' digital assets to be protected, but at the same time, the SEC has taken actions that have driven some of the safest, most highly-regulated institutions out of digital asset custody.

SEC Chair Gensler has stated that the vast majority of crypto assets are indeed securities.

It is clear that Congress must play a role in reining in some of these crypto companies.

I wrote and passed the Nebraska Financial Innovation Act, which allows Nebraska State-chartered banks to custody digital assets.

Treasury tells us that on June 5th--that is just 3 months away--the Treasury runs out of money.

The moment is when you are ordering four helpings of dessert.

I am talking about the threats by the Republican leadership to force a default on our nation's debt if we don't agree to their demands to cut Social Security, Medicare, or other critical programs.

I commend the President. He is going to issue a budget plan tomorrow, and perhaps in their time, one of our Republican colleagues can tell us when the Republican budget plan will be released.

So, Mr. Chairman, there is a question here and the question is this. You and I both watch the markets pretty closely.

That is when we should be talking about it and taking responsibility for the choices that we make.

Independent monetary policy is a bedrock of a solid economy.

My Republican friends know how very dangerous a game they are playing.

My Republican friends like to point the finger at this side of the aisle and blame us, but, Chairman Powell, as you know, fully one-quarter, 25 percent of today's U.S. debt, was accrued in the 4 years of the Trump Administration.

I think President Biden and the Kansas City Fed Board should build on this progress by seriously considering diverse candidates for these positions.

I actually think the markets will persuade them.

It is a pernicious form of baloney.

Monetary policy is obviously very concerned with interest rates. If global capital markets begin to decide that we are really serious about hurting ourselves this time, is it possible that we could see interest rates rise more because…

I hope Republicans will listen today to the real consequences that even the mere threat of a default would have for everyone in this country.

I think we have the answer to this question in that inflation is considerably higher in the eurozone than it is in the United States today, and it is very hard to say that Joe Biden is responsible for inflation in Germany.